MH 2024 Annual Report
MH 2025 Annual Business Management Conference was successfully held at the Qianhu Yuezhuang Hotel from January 10 to 11. Representatives from the Group's Investment, International Trade, Overseas Channels, Thread, Webbing, Lace Manufacturing attended the meeting. Key leaders from each business unit provided a comprehensive review and summary of the business management work in 2024, analyzed existing shortcomings, and laid out a detailed plan for the goals and work strategy for 2025.
Urgent Issues Facing MH's Current Development-Chairman Yan Guangyao
At the meeting, Chairman Yan Guangyao of the group provided a brief overview of the key financial data for 2024. He delivered an important speech on the theme of "Urgent Issues Facing MH's Current Development," offering an in-depth analysis of the current situation and proposing constructive solutions.
As market competition intensifies, the pressure on businesses to survive continues to grow. In response, Mr. Yan emphasized that both Hunan MH must strengthen their commitment to long-term sustainability. A brand is the core competitive advantage of a business and plays a critical role in market competition. Hunan MH should continue to focus on building its four key centers: production capacity, cost, technology, and product centers to enhance its core competitiveness.
It is essential to establish a scientific management system to improve management efficiency and capabilities. Additionally, innovation must be prioritized, with continuous investment in the research and development of new products and technologies. For MH Lace Factory, breakthroughs are needed in dyeing technology, benchmarking, adopting advanced equipment and processes, and achieving cost reduction through economies of scale. The thread factory must focus on breakthroughs in mainstream upgraded products to achieve large-scale production. At the same time, efforts should be made to cultivate MP-level talent, enhancing employees' professional skills, enthusiasm, and creativity.
Looking back on 2024 and looking forward to 2025
General Manager of International Trade, Chen Hao, delivered an important speech.
In 2024, the International Trade division rose to the occasion with determination and hard work, achieving an annual revenue of over $700 million and meeting its operational targets. This success is the result of the tireless efforts of every team member. Over the past year, we continued to invest in resources, expand our outreach efforts, and drive business growth. By focusing on products, contact points, and branding, we implemented numerous operational improvements, further enhancing our core competitiveness. With in-depth cost reduction and efficiency measures, the low-cost operational advantage of the International Trade division has become increasingly evident. System improvements and execution guarantees have ensured steady business progress with manageable risks.
Currently, traditional foreign trade is entering an "era of surplus," where oversupply in products, services, and information has intensified market competition. We must recognize that only through change and innovation, injecting new growth drivers into International Trade, can we achieve sustainable growth and transition from incremental progress to transformative breakthroughs. To this end, General Manager Chen outlined the key focus areas for 2025 and beyond, emphasizing the increase of market share to achieve the goal of $1 billion in revenue.
"Although the dream is distant, it can be reached through pursuit; though the journey is tough, persistence will make it possible." As we embark on the new journey toward the International Trade division's goals for 2025, everyone is a central player. Every contribution is invaluable, and every spark shines brightly. General Manager Chen firmly believes that with the collective efforts of the entire team, all operational goals will undoubtedly be achieved.
